Minister of Energy Senator Conrad Enill, centre, presents a copy of the signed contract document to Voyager’s President and CEO Gerard Fong. At left is Petrotrin Director Andrew Jupiter. At right is Petrotrin President Kenneth Allum and Commissioner of State Lands Stephanie Elder-Alexander.

On Tuesday 7^th July, 2009 Minister of Energy and Energy Industries Senator the Honourable Conrad Enill; President of Petrotrin Mr. Kenneth Allum and President/ CEO of Voyager Energy Limited, Mr. Gerold Fong signed a Production Sharing Contract (PSC) for the exploration of the Guayaguayare Blocks off Trinidad’s south coast. 

These consist of a Shallow Horizon Block covering 181, 262 acres and a Deep Horizon Block covering 211, 475 acres. Voyager is expected to invest US$40.3 million over four years, in a minimum work program that consists of; 

• Reprocessing existing seismic data
• Acquiring 350 square kilometres of 3D seismic
• Drilling three onshore wells: two to a depth of 5,000 feet and one to a depth of 10,500 feet

This event took place at the Hyatt Regency on Wrightson Road, Port of Spain and was witnessed by specially invited guests; senior officials of the Ministry of Energy, Petrotrin and Voyager; as well as a large contingent of members of the media. 

In his feature address, Senator the Honourable Conrad Enill said that Voyager’s decision to invest for a second time in T&T represents a vote of confidence in the future of the country. He pointed out that Voyager is a new contributor to the local energy landscape and that it was moving positively ahead at a time when major energy investments are being deferred. He said: 

“This signing ceremony represents another milestone in the development of the local hydrocarbon sector and is a testimony to the confidence investors still place in the energy sector of Trinidad and Tobago, despite the challenges of the current global market.” 

The Energy Minister reminded the audience that ‘energy powers development’ and that hydrocarbons will remain crucial to energy supplies for a long time to come. He argued that it was necessary to bring technological innovation to old basins and mature reservoirs. 

Turning his attention to the wider contribution that Voyager was making to T&T, the Minister informed the audience that apart from the US$40 million that would be used for seismic and drilling operations, the Company would be making an additional US$11 million which includes: investment in training, providing scholarships, administrative costs and a signature bonus of US$5.5 million. 

Petrotrin President Mr. Kenneth Allum said: “Today, the Ministry of Energy and Energy Industries has formally granted a PSC to Voyager Energy for 3D seismic exploration and exploratory drilling in the Guayaguayare Block. This will be executed in an acreage that is located in the South Eastern part of Trinidad and stretches from Moruga East in the South to Mayaro/ Manzanilla in the North. The area is bordered on its Eastern side by the Atlantic Ocean and by Princess Town and Tabaquite to the West.

There are currently five active producing fields in the block. These are: Goudron, Beach, Marcelle and Navette in the Guayaguayare area and Moruga East to the South. 

Mr. Allum explained that Voyager is expected to drill one onshore exploration well, to a minimum depth of five thousand feet and this well should be spudded within thirty months. Drilling of one offshore exploration well, to a minimum depth of ten thousand five hundred feet is also required.